Cannabis industry investor Canopy hosts bootcamp for 9 startups
Canopy, a cannabis industry investor, is currently hosting a 16-week entrepreneurial bootcamp in Berkeley for nine cannabis ancillary startups.
Canopy chose startups it identified as having high potential for growth within the cannabis industry and aims to prepare these companies for investment opportunities within the next four months. According to CEO and co-founder Patrick Rea, Canopy had an interest in having its business in Berkeley because of the prominence of cannabis-related business in the East Bay.
“Well before we launched our first class in 2015, we made the strategic decision to be in California during the time of (the potential) legalization of marijuana,” Rea said.
California will vote on the legalization of recreational marijuana in this November’s elections with Proposition 64. If it passes, the cannabis industry will have large potential for expansion, according to Austin Stevenson, co-founder and COO of MyStrain, a startup participating in the bootcamp.
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